All M&A articles – Page 5
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News briefs
Essilor to complete Lenstec’s takeover
The Essilor Group in the U.K. announced a few days ago the completion of the acquisition of the Lenstec Optical Group , in which it had taken a minority shareholding through Shamir in 2016. Lenstec operates three sites in the U.K. and reported annual revenues of £22 million ...
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News briefs
CooperVision acquires No7 Contact Lenses
Following a multi-year partnership with No7 Contact Lenses , CooperVision announced on April 27 the acquisition of the U.K.-based contact lenses’ specialist for an undisclosed amount. The company will be integrated in the CooperVision Specialty EyeCare group. CooperVision said that the acquisition would allow the group to offer ...
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Article
ECOO, ZVA criticize EU decision in Essilux-GV case
The European Council of Optometry and Optics ( ECOO ), the Brussels-based umbrella association, and the Zentralverband der Augenoptiker und Optometristen ( ZVA ), the German association of opticians and optometrists, both released official statements at the end of last month criticizing the terms of the European Commission ...
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News briefs
Chile conditionally approves Essilux-GV transaction
GrandVision announced yesterday that Fiscalía Nacional Económica , the market regulator for Chile, just approved the transaction agreed with EssilorLuxottica in July 2019, following the steps of Brazil, Colombia, Mexico, the U.S., and most recently the European Union. This decision leaves Turkey as the only country where the ...
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News briefs
Essilux acquires Walman in the U.S.
After having put business acquisitions on hold last year as cost control became a priority in a Covid-19 market environment, EssilorLuxottica is back on the external growth track with the acquisition of Walman in the U.S., which was announced yesterday. Created in 1915 and based in Minneapolis, Walman ...
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Article
New owner for Rodenstock
Apax Partners , a private equity firm based in the U.K., has agreed to acquire Rodenstock from Compass Partners , another investment fund and the majority shareholder of the German brand of high-end lenses and frames since February 2016. Financial details of the transaction have not been disclosed. It ...
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ArticleEU green light for Essilux-GrandVision merger
Putting a final point to an investigation started in December 2019, the European Union (EU) announced yesterday evening its conditional clearance for the acquisition of GrandVision by EssilorLuxottica . The green light is conditioned to the divestment, proposed by EssilorLuxottica, of a total of 351 stores in Belgium, ...
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News briefs
Activist investor builds up stake in Bausch Health
The activist investor Carl Icahn disclosed that he has bought 27.8 million shares in Bausch Health , becoming the largest shareholder with a 7.83 percent stake. Following the news, Bausch Health issued a statement saying that its board and management “welcome open communication with our shareholders and constructive ...
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ArticleEssilux to buy 50% of SightGlass Vision from CooperCompanies
EssilorLuxottica will buy a 50 percent stake of SightGlass Vision , which focuses on developing lenses to reduce the progression of myopia in children, from CooperCompanies, the parent company of CooperVision. CooperCompanies held a minority ownership interest in SightGlass Vision and bought the company in January. Under ...
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ArticleGlassesUSA.com raises $45m in funding
GlassesUSA.com has raised $45 million in funding from the Israeli private equity firm Tene Investment Fund . Established in 2008, the online eyewear retailer is a subsidiary of Optimax Eyewear . It was founded by the company’s chief executive Daniel Rothman , chief operating officer Eldad Rothman ...
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News briefs
Hilco Vision buys digital vision testing systems provider
Hilco Vision has acquired M S Technologies , an Illinois-based provider of digital vision testing systems for the North American market. No financial details were released. M S was founded in 1990 by its president Joe Marino , who will be staying on in a leadership role ...
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News briefs
Italian post office buys a Chinese e-commerce services provider
The Italian postal and financial services group Poste Italiane and Cloud Seven Holding have signed a binding deal to reinforce their partnership in e-commerce services between Italy and China. Under the deal, Poste Italiane will buy 51 percent of the voting capital of Sengi Express , a wholly-owned ...
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News briefsNew Look Vision buys The Vision Clinic
New Look Vision has reinforced its position as Canada’s main optical retailer with the acquisition of The Vision Clinic (TVC), which has 12 retail optical clinics in Southern Ontario. The purchase price for an unspecified majority stake was 18.8 million Canadian dollars (€12.1m-$14.8m). TVC was founded in ...
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ArticleCecop continues aggressive expansion in the U.S.
Cecop , the international buying group based in Madrid, continues its rapid expansion in North America with the acquisition of the Alliance Buying Group (ABG), based in Monmouth, Illinois, from Surgery Partners . No financial details were released. Cecop entered the North American market in May with the ...
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News briefsItalia Independent to proceed with €7.8 million capital increase
Italia Independent has decided to proceed with a previously announced €7.8 million capital increase. The board has authorized the Chief Executive, Marco Cordeddu , to launch the recapitalization towards which the shareholders Lapo Elkann and Creative Ventures have already made advance payments totalling €4 million and ...
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ArticleFielmann buys Óptica & AudiologÍa Universitaria in Spain
In spite of the Covid-19 pandemic, Fielmann , the German-based optical retailer, keeps expanding, as mapped out in its Vision 2025 strategic plan, with the acquisition of Óptica AudiologÍa Universitaria , one of the leading retail groups in Spain. The transaction will complete on Dec. 31. The details ...
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News briefsEssilorLuxottica reportedly reconsidering GrandVision deal
EssilorLuxottica is reconsidering the agreed acquisition for €7.2 billion of the optical retailer GrandVision , according to the news agency Bloomberg , which cited people with knowledge of the matter. Essilux still sees the rationale of the deal but is increasingly worried about the impact of the Covid-19 ...
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News briefsSafilo’s acquisitions are offsetting license losses
Safilo expects Blenders Eyewear and Privé Revaux , the two American companies it bought this year, to offset the loss of the Dior and Fendi licenses. The Dior license expires at the end of 2020 and Fendi at the end of June 2021. In an interview with the ...
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News briefs
Mister Spex buys technology firm to develop AI
Mister Spex has bought the Berlin-based technology firm Tribe in order to develop artificial intelligence (AI) solutions for the ophthalmic sector. The companies did not release any financial information regarding the deal. Tribe was founded in 2018 and developed a virtual fitting solution installed on Mister ...
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ArticleTechVision looks to expand one-stop components shop
TechVision , an Italian holding company owning companies producing metal components and providing surface finishing services for eyewear, aims to roughly triple its size in the next three to four years, as the eyewear sector recovers from the hit it has taken from the Covid-19 pandemic and management keeps an ...
